Disliked{quote} yep! very same view! i do expect AT LEAST, a good corrective move to the upside in $CHF somewhere around .9160 .9200 but IMO, we still are paying the SNB and BOJ interventations here. so let's see furthermore... why the reason market should keep selling $?? i don't really see anymore any single reason for this to keep going! ok GBP shown good data in recent weeks, but what about the EURO?!?!?!?!?!?!?!?!?!?!?!?!?!?!?!?!?!?!?!?!?! smells like the biggest and smartest trap ever done!Ignored
Looks like I have found a thread that fits more with my style of trading.
I too am a little surprised to see how resilient EU has been over the last few weeks. Expecting lower prices to come based on the worrying releases from ECB and the spectre of tapering looming in the background.
I am not surprised to see the pound trading at 1.63. UK economy has been improving steadily over last 2 years and accelerating of late. Prices in the range of 1.55 - 1.65 were tolerated for a considerable period 08-2010 -01-2013 when the UK economy stood on a far less stable footing in comparison to the US. Tapering woes created high levels of volatility in the pair, helped push the pound as low as 1.5, which at the time ( earlier this year) was well overdone and allowed me to capitalise. Tapering brought forward could push the pound back to 1.575 "bucket" which would be worth considering to go long IMHO, obviously dependent on how the scenario evolves from here lol.
Asian currencies bearish across the board. I was very bearish on AUD, AUD/CAD especially during the recent rally but think the best of the downside has already been priced in now. No significant disparity remains for me to look to trade those pairs at the moment.
I usually trade 1-8 week positions based on trying to identify a disparity between economic circumstance and market sentiment ( i.e current price level). Entry and exits based on technical levels. supply and demand zones in particular aligned with Fib and other confluences.
Regards
VP
Nil desperandum